H1 2015 RESULTS - Pharmagest · Radical changes are taking place in the health universe. Artificial...
Transcript of H1 2015 RESULTS - Pharmagest · Radical changes are taking place in the health universe. Artificial...
H1 2015
RESULTS
Information meeting,
22 September 2015
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1. Online healthcare – Thierry Chapusot
2. Financial results on 30 June, 2015 – Jean-Yves Samson
3. Business H1 2015 and Outlook for H2 –
Dominique Pautrat
4. Conclusion – Thierry Chapusot
22 September 2015 H1 2015 RESULTS 2
Table of contents
Major change in the health sector:
what it means for the future of
the PHARMAGEST Group
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The online healthcare
revolution
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Online healthcare
Radical change in the health system and the health economy involving all
stakeholders:
Healthcare professionals
Industry
Software developers
Finance bodies
CNOM White Paper, January 2015
Telehealth Online health services, information, training, social networks
Robotics
E-Health Health information systems (IS) Telemedicine
m-health
Connected objects, smart fabric
sensors…
Home automation tele-
monitoring, connected house, care in the home
technologies…
New technologies and digital
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E-Health Online healthcare
A global issue
A global issue
In figures…
Number of connected objects
across the globe of French people
use connected
objects
of French are hoping to see
the development of connected
objects in items
of health
of invests in connected objects in 2013
concerning the health sector
In figures…
15 billion
9 billion
80 billion
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Online healthcare
Radical changes are taking place in the health universe. Artificial intelligence will
play a major and decisive role in this new environment.
Leading pharmaceutical and digital technology companies are coming
together to pool their expertise and know-how.
One example is the strategic partnership between Sanofi and Google to improve
diabetes care.
The development of robotics in medical assistance and tele-surgery is
confirmed (remote surgery).
For example, on 6 July 2015 a patient with mitral valve insufficiency was operated on in
Rennes University hospital using a surgery robot. A first in France.
A global issue
It is excellent to see
groupings working in
online healthcare as it is
a field with huge
potential for therapeutic
monitoring and health
education, amongst
others" Le Moniteur des Pharmacies – May 2015
Isabelle ADENOT Chair of the Chamber of
Pharmacists (Ordre National des
Pharmaciens)
I am convinced that
France must embrace
technological innovation to
improve quality of life for
patients. This is the
challenge of developing
medical connected
objects. Speech during the symposium on "Compliance, autonomy and responsibility", 3 June 2015
Marisol TOURAINE Minister for Social Affairs, Health
and Women's Rights.
Online healthcare
2015 in France: increased awareness of online healthcare importance at all levels
The emergence of so
many digital tools and
connected objects is
also a potentially
profitable source of
innovation for
pharmacies. Les Échos – April 2015
Xavier PAVIE Director of the Institute for
Strategic Innovation and Services
at ESSEC Business School
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Moniteur – May 2015
Online healthcare
Online healthcare makes headlines – Summer 2015
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Online healthcare
CNOM White Paper, January 2015
Telehealth Online health services, information, training, social networks
Robotics
E-Health Health Information systems (IS)
Telemedicine
m-health
Connected objects, smart fabric
sensors
Home automation tele-monitoring,
connected house, care in the home technologies
PHARMAGEST Group innovation sectors
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The PHARMAGEST Group's strategy for the past four years: be
positioned as a key player in this market
Online healthcare
The Group anticipated this change and is now in a position to respond to the
challenges of the market, having made the necessary investments:
• Development of predictive expert systems (artificial intelligence) to monitor
changes in patient health, through the DIATELIC subsidiary.
• Monitoring treatment compliance and increasing overall safety of
medication, with the DO-Pill SecuR™ smart pill dispenser (connected
object).
• Satebox (medical box) and connected objects through its KAPELSE
subsidiary.
• Ensuring the secure processing and confidentiality of personal health data
through its Datacenter and the hosting of health data (HHD) accreditations
granted in 2012 by the French Minister of Social Affairs and Health.
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The Group's recognised expertise
Online healthcare
Project extending length of time people can be cared for at home
("36 mois de plus à domicile")
The PHARMAGEST Group was selected by the Lorraine region under the Pacte
Lorraine as an e-Health partner for this innovative programme, with other
companies in the industry (SMEs and start-ups), academics, stakeholders from the
medical world and local authorities.
Goal: Delay by 36 months an individual's transfer to an elderly care facility and
promote early detection of loss of independence.
The Lorraine Regional Council and the European Regional Development Fund
(ERDF) is providing a subsidy of €751,471 each (giving a total subsidy of
€1,502,942) to PHARMAGEST INTERACTIVE and its subsidiaries.
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Online healthcare
Project extending length of time people can be cared for at home
("36 mois de plus à domicile")
Social networks
Pharmacist
Nurse
Biologist
Physiotherapist
Home carer services
Services
Coordination
Health
Care
Coordination
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Online healthcare
The pharmacist's role: nurture human relations
In an environment where technology is increasingly important and building on their
close proximity to patients and easy access to them, pharmacists are ideally
positioned to support patients in their treatment path and coordinate relations with
other healthcare professionals, while nurturing the relation with the patient.
PHARMAGEST supplies pharmacists with the tools to:
• Save time on day-to-day management tasks in the pharmacy to be able to
devote more time to patients (LGPI®, My Pilot®, Sellen);
• Support patients (DO-Pill SecuR™, Compliance monitoring software, Ma
Pharmacie Mobile® (My Mobile Pharmacy app) / Marque Verte Mobile).
Financial results
on 30 June 2015
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New configuration
• Solutions for Pharmacy Division – Europe which includes the Pharmacy
France and Pharmacy Belgium and Luxembourg Business Lines;
• Solutions for sanitary and medico-social establishments (encompassing
the Care Homes business operated by its subsidiary, MALTA
INFORMATIQUE);
• Solutions for e-Health Division, which includes the e-Pharma, e-Patients
and e-Connect Business Lines (the latter two were formerly within the scope
of the e-Health business line);
• Fintech Division. This new equipment leasing division has just been
established and aims to gain market share in financing sales of equipment
and services. It takes in the activities of the new subsidiary, NANCEO.
22 September 2015 H1 2015 RESULTS
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H1 2015 key figures
FINANCIAL RESULTS
59.1
58.3
56.2
2013 2014 2015
Turnover (€m)
8.1
8.7
9.3
2013 2014 2015
Net profit (€m)
+7%
2.65 2.87
3.09
2013 2014 2015
Net earnings per share (in euros)
+8%
8 8.7 9.3
2013 2014 2015
Net profit attributable to equity holders
of the parent (€m)
+7%
*+4.5% restated for
Communication
Services
-4%*
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€ millions H1 2015 H1 2014 Change Restated change*
Q1 27.04 28.82 - 6.2% + 5.3%
Q2 29.15 29.49 -1.2% + 3.8%
H1 2015 56.19 58.31 -3.6% + 4.5%
*Turnover restated for the "Communication Services" business
FINANCIAL RESULTS
H1 2015 turnover
89,1%
5.8%5.0%
Pharmacy Europe And. Sanitary e-Health
Contribution to turnover by business H1 2015
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Financial results FINANCIAL RESULTS
Income statement
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Financial results
In € millions H1 2015 H1 2014 CHANGE
TURNOVER 56.19 58.31 - 4%
OPERATING PROFIT 14.04 13.32 + 5%
NET PROFIT 9.29 8.68 + 7%
NET PROFIT ATTRIBUTABLE TO OWNERS OF THE PARENT 9.26 8.72 + 7%
NET EARNINGS PER SHARE 3.09 2.87 + 8%
FINANCIAL RESULTS
Balance Sheet In €M June 2015 Dec. 2014 June 2015 Dec. 2014
NON-CURRENT ASSETS 45.67 44.87 EQUITY CAPITAL 82.13 81.69
R&D 7.85 7.06 Of which group share 81.91 81.34
Goodwill 27.74 27.74
Other non-current assets 10.08 10.07 NON-CURRENT LIABILITIES 4.52 3.41
LT debts 0.34 1.04
Other non-current liabilities 4.18 2.38
CURRENT ASSETS 75.91 68.68
Accounts receivable 16.82 15.28 CURRENT LIABILITIES 34.93 28.44
Other current assets 6.42 5.69 ST debts 1.15 0.54
Cash 11.95 12.48 Trade accounts payable 6.47 6.30
Securities available for sale* 40.72 35.24 Other non-current liabilities 27.30 21.60
TOTAL 121.58 113.55 TOTAL 121.58 113.55
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* And other financial assets
Financial results FINANCIAL RESULTS
(*) of which R&D €1,551 K
(**) of which Securities available for sale
Summary cash flow table
€ millions
Net cash 31/12/2014 (**) 47.51
Net cash provided by operating activities + 10.75
Change in WCR + 4.89
Investments (*) - 1.97
Dividends - 8.98
Loans - 0.49
Other financial operations +0.64
Net cash 30/06/2015 (**) 52.35
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FINANCIAL RESULTS
On 30/06/2015, market capitalisation was €317 million.
On 15/09/2015, it stood at €348 million.
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Market Capitalisation
Source : Boursorama
STOCK MARKET INFORMATION
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Market capitalisation
The first 40 innovative European SMEs listed on the markets covered by
EnterNext were selected for this new label on the basis of their business,
financial and stock market performance.
STOCK MARKET INFORMATION
PHARMAGEST INTERACTIVE SELECTED FOR TECH 40 LABEL
AND JOINS THE NEW ENTERNEXT TECH 40 EUROPEAN STOCK INDEX
A new index exclusively for Tech 40 companies that have distinguished
themselves through their technological, financial and stock-market success.
PHARMAGEST is now one
of the BioTech, Medtech
stocks.
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Market capitalisation
Source: Euronext
5 August 2015: 5-for-1 stock split that reduces the share price from €1 to
€0.20.
The share capital is now divided into 15,174,125 shares at €0.20 each,
instead of the current 3,034,825 at €1 each.
New ISIN Code: FR 0012882389.
Note: stock split
STOCK MARKET INFORMATION
Business H1 2015
and Outlook
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Pharmacy France
Turnover rose 0.7%, on:
• Configuration Sales + 4.0%;
• Recurring revenue +2.7%;
• Products developed (licences and satellite offers) declined 20.9%
H1 2015 turnover: + 0.7% to €50.1 million
Accounts for 89.1% of the overall Group turnover
Solutions for Pharmacy Division – Europe
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Patient focus:
Start of the roll-out phase for the Compliance monitoring
software (LSO)
• Goal: Roll-out to 100% of
customers by 31/12/2015;
• Integration of connected objects
offered by the Solutions for e-
Health Division;
Definitively positions PHARMAGEST INTERACTIVE as
the only software company
with the ability to offer a dedicated
Pharmacy software suite to pharmacists.
PHARMACY FRANCE BUSINESS LINE - Highlights Solutions for Pharmacy Division – Europe – Highlights
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Pharmacy France = the Group's backbone to
• Generate synergies with the Group's other business lines and subsidiaries
• Ensure consistency with the capital expenditure of the other subsidiaries
DOMEDIC EUROPE and the DO-Pill SecuR™ smart pill dispenser, which is marketed to pharmacies by the Pharmacy business line's sales team;
MALTA INFORMATIQUE and Offidose 2.0: software to manage and schedule PDA (Preparation of Doses to be Administered) for 500 large pharmacies in France equipped with a pharmacy robot.
Pharmacy BeLux, which now distributes the mobile app, Ma Pharmacie Mobile (My Mobile Pharmacy app) / Marque Verte Mobile to its customers;
KAPELSE and SESAM-Vitale card readers, together with the Kap&Care terminal to update the cards;
Solutions for Pharmacy Division – Europe – Highlights
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Pharmacy BeLux
• Development of the unit pricing module for residents of care homes, mandatory as of 1
September 2015.
• Roll-out of AssurPharma in 2015, with compliance certification for SABCO solutions to
send detailed receipt data electronically and securely to the patient's supplementary
insurance provider.
H1 characterised by the development and roll-out of
new features and new modules in Belgium and
Luxembourg
Belgium
• Development of Officine 2016, the new version of Officine II, delivering more
performance and connectivity with brand new features and modules: integrated
mobile apps, statistics, care home management, preparation of individual medicines,
supplier relations and patient monitoring…
Luxembourg
Solutions for Pharmacy Division – Europe – Highlights
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New functions to streamline pharmacists' tasks
Tool for remote pharmacy management using
management dashboards update on a daily
basis.
Mobile version
Sellen Twist, the first robot between back and
front office.
Allows pharmacies to keep their counter space
and, with a minimum of set-up, to leverage all the
advantages of Sellen:
• save at least 15 sq. m of space,
• save time,
• improve service to customers.
Solutions for Pharmacy Division – Europe – Outlook
Consolidation of the innovative products offering:
• Roll-out of Farmamobile on the markets in Belgium and Luxembourg,
• Launch of Offiboard, a new application for mobiles and tablets to look up key
pharmacy data in real time,
• Introduction of Vitalink to share medication schedules between pharmacies and care
homes,
Objectives: to accelerate the acquisition of new customers and
establish the growing reputation of Sabco and the image of a
professional company serving pharmacists
• Commercial launch in the Grand Duchy of Luxembourg of Officine 2016, the new
version of Officine II, delivering more performance and connectivity with brand new
features and modules: integrated mobile apps, statistics, care home management,
preparation of individual medicines, supplier relations and patient monitoring...
Target: all Luxembourg customers (SABCO currently has a 44% market share)
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Solutions for Pharmacy Division – Europe – Outlook
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Care Homes
Significant organic growth and excellent sales momentum:
• Developed products (licenses and satellite offers) up 5.9%
• Recurring revenues to increase 42.5%.
H1 2015 turnover: €3.26 million, 11.3% growth
Accounts for 5.8% of the overall Group turnover
Solutions for sanitary and medico-social establishments
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The first half of 2015 confirmed MALTA INFORMATIQUE as a leader in
its market
• The number of new sites signed continues to rise significantly with 100 new customers at
30 June 2015
− Installed base of more than 1,200 establishments,
− Market share greater than 10%.
• The roll-out of several major Group contracts continued in very good conditions.
• Malta Informatique also decided on a methodical strategy for the intermediate care facilities
and specialist care facilities market. They provide care for the disabled and they have
similar needs to care homes. Our potential market would increase by more than 2,000
sites in France.
Solutions for sanitary and medico-social establishments -
Highlights
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Care Homes Commercial success boosted by software upgrades:
• TITAN INTENDANCE: a new offering for managing orders for medical devices for
care homes. MALTA INFORMATIQUE is positioned as the only operator in the market to
offer a system to manage electronic supplier prices and orders, which facilitates relations
with suppliers of medical devices. This new service was up and running in 43 sites in the
first half and is expected to be a resounding success.
• New and improved mobile features with the new tablet TITAN NOMADE module,
providing a valuable addition to the existing barcode traceability solution, TITAN
ZAPETTE. The module was developed at the end of 2014 and has been on the market
since early-2015. The reception has been very positive and more than 150 licences were
sold in the first half of 2015.
• Roll-out of the new TITAN DMP (personal medical record) module at the first
clients who will now be able to register for the DMP system. Developed in 2014 and on
the market since early-2015, the module can be used to create, input and consult
residents' personal medical records. Supported by the regional health boards in France,
demand should be strong in the coming months.
Solutions for sanitary and medico-social establishments -
Highlights
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Care Homes - Outlook
• The context remains favourable: 1,000 or more facilities not equipped, an active
software upgrade market;
• Thanks to the group's numerous contracts and the maturity of the marketing team,
MALTA INFORMATIQUE benefits from excellent commercial visibility that should allow
it to maintain strong growth in 2015 ;
• MALTA INFORMATIQUE is working on developing a new module, TITAN WEB
ENTOURAGE, designed for the extended families and friends of residents, close family,
care assistants and their trusted contacts. It will allow care homes to keep relevant
people informed about care for residents. The module is in development and will
constitute a relevant response to a very marked prominent market need.
MALTA INFORMATIQUE is confident of maintaining a good level of
organic growth and recurring revenues.
Solutions for sanitary and medico-social establishments -
Outlook
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Pharmaceutical
Companies
H1 2015 turnover: €2.8 million, 158.3%* growth
Accounts for 5% of the overall Group turnover
Solutions for e-Health Division
Revenue for this Division breaks down into:
• Product sales (connected objects, including DO-Pill SecuR™, e-health box
and readers);
• Recurring revenue (subscriptions for personal health data hosting,
interactive terminal services, artificial intelligence and others);
*restated for the "Communication Services" business
E-PHARMA Business Line
• Communication products and services revamped in response to the minimum
security requirements dictated by the French National Authority for Health (HAS) for
certification of dispensing software;
• Sales teams are more oriented towards an advice and support role, reflecting our new
tagline: « vos besoins sont différents de ceux des autres, notre accompagnement
aussi » ;
• Our canvassing drive concentrates on advanced or restricted-prescription products
that call for advice from the pharmacist at the point of dispensing and longitudinal
patient monitoring.
Solutions for e-Health Division - Highlights
Line-up for Pharma Business tailored to the far-reaching regulatory
changes in the sector
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Recognition: The PHARMAGEST Group wins the first Business
France Silver Economy Award
The PHARMAGEST Group won first prize at the Awards held in June 2015 for its
innovative line-up of solutions to improve treatment compliance, and particularly for the
DO-Pill SecuR™ smart pill dispenser.
Organised by Business France to
promote the national and international
silver economy to facilitate stakeholders
and to promote their know-how in the
world market.
The Group also joined Business France on its stand at the China International Senior
Services Expo (CISSE) in May 2015 to showcase DO-Pill SecuR™.
Solutions for e-Health Division - Highlights
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PHARMAGEST Group is taking part in a number of trials that are now in
the operational phase
SATELOR / 36 MOIS DE PLUS A DOMICILE Objective: To develop a solution to provide a secure care path for patients with multiple
pathologies and/or losing independence in their homes.
Phase: Laboratory roll-out.
E-CHRONIC/E-NEPHRO Objective: Care programme for chronic renal failure at all stages of the illness.
Phase: Authorisations granted by the French Data Protection Agency (CNIL) to start the
patient registration phase.
PAERPA (Elderly at risk of losing their independence) Objective: Coordination between different health sectors to avoid risks of disrupting the
care pathway
Phase: Coordination with other healthcare professionals.
25 pill dispensers provided to elderly people approaching dependency.
Solutions for e-Health Division - Highlights
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KAPELSE, designer of innovative e-Health solutions
Telehealth
Medical tele-monitoring
Medical tele-assistance
Medico-social tele-assistance
Equipment of healthcare professionals
Digitisation and enhanced security of
administration.
Robust authentication to access tele-services
and shared records.
Patient follow-up.
Two target markets:
H1 2015: • June 2015 launch of eS-KAP-Ad: a new mobile terminal for medical auxiliaries;
• More than 12,000 SESAM-Vitale cards installed (bringing to 20,000 the number of
readers installed since the launch in May 2014);
• More than 3,500 subscriptions to interactive terminal services.
Solutions for e-Health Division - Highlights
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In a challenging environment, there are positive indicators for the e-Pharma
Business Line for this year-end:
• Combining the e-Pharma and e-Patients Business Lines under the banner of
the e-Health Division increases legibility and gives us the ability to offer more
cross-sector services to our pharmaceutical company clients;
• Roll-out of compliance monitoring software and the revamped treatment
follow-up service (medication reminders and text messages);
• The introduction of new, more high-tech treatments to the market require
advice and monitoring by a health professional to increase patient compliance;
• Increasingly frequent requests from pharmaceutical companies for our
"research and intelligence" activity.
Solutions for e-Health Division - Outlook
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New artificial intelligence lab: Dialab
In view of:
• Favourable developments in trials involving the PHARMAGEST Group,
• The growing significance of connected health,
The PHARMAGEST Group will boost its expert system data analysis activity and
initiatives to generate predictive warnings for healthcare professionals, patients or their
carers.
Creation of a laboratory in DIATELIC,
the Group's specialist artificial intelligence subsidiary.
Solutions for e-Health Division - Outlook
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Continued expansion in the international market
In Asia (China and Japan) • We will consolidate the connections established during the CISSE Trade Fair;
• We are in discussions with Japanese companies regarding marketing DO-Pill
SecuR™.
In the United States • Participation in the 2015 MedStartUp programme organised by the Galien
Foundation and Business France. The initiative aims to establish long-term Franco-
American ties to reward innovative partnership projects in the pharmaceutical
industry, medical technology and e-Health.
Solutions for e-Health Division - Outlook
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H2 2015 projects:
• New Kap&Maj services for pharmacists,
• Launch of a new terminal for GPs, specialists and
midwives,
• 2 new development projects in telehealth.
Outlook:
• Maintain H1 growth levels,
• Address a new category of healthcare professionals,
• Be selected for a new telehealth project.
Maintain roll-out levels and market share gains for innovative solutions
Solutions for e-Health Division - Outlook
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Fintech Division – New expertise
With the formation in January 2015 of a new equipment leasing subsidiary, NANCEO, and a
number of other significant developments, the PHARMAGEST Group has gained a new
area of expertise:
• Giving it independence from other technology suppliers,
• Providing it with a margin on the provision of the technical services,
• Enabling the Group to propose the use of its technical infrastructure to other companies
as a white-label product.
Equipment financing market
The activity has yet to make any significant contribution to PHARMAGEST Group turnover.
NANCEO is now responsible for all sales by PHARMAGEST INTERACTIVE.
Conclusion
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Conclusion
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CONCLUSION
Management expects a positive outlook for PHARMAGEST Group through
• Acknowledging recent e-Health activity,
• Generating synergies between the different business lines for a return on
the investment made.
The Solutions for Pharmacy Division – Europe and Solutions for
sanitary and medico-social establishments management are confident
of H2 growth in line with that of H1.
The e-Health Division expects significant growth, especially its e-Connect
et e-Patients Business lines.
Regarding the Fintech Division, management expects an initial
contribution to the Group’s turnover in H2 2015.
Conclusion
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The PHARMAGEST Group is maintaining its external growth policy by
exploring avenues – both in France and overseas – in the following
development areas:
• Services and technologies that it could offer to its pharmacist customers to
help them in their new advisory role;
• The technological areas that will enable the group to develop new products
or services to enhance the profitability of pharmacies and/or the efficiency
of health systems.
CONCLUSION
Upcoming dates
Financial publications:
12 November 2015: Q3 2015 turnover
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Next key dates for investors:
7 and 8 October 2015: MidCap Event Paris
Managing Director
Dominique PAUTRAT
Analyst Investor Relations
Jean-Yves SAMSON
Tel.: 03 83 15 90 67 – [email protected]
Press Relations
FIN’EXTENSO
Isabelle APRILE
Tel. 01 39 97 61 22 - [email protected]
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Contacts